Berkshire Money Market Fund Launches N2 Billion Offer for Retail and Institutional Investors

The Berkshire Money Market Fund, an open-ended unit trust registered with the Securities and Exchange Commission (SEC), opened for subscription at N1.00 per unit, targeting retail and institutional investors seeking short-term, low-risk returns. This offer totals N2 billion.

Berkshire Asset Management Limited stated the fund aims to deliver capital preservation, liquidity, and competitive income returns aligned with current Nigerian money market opportunities.

DataPro Limited rated the fund, while Ijewere & Co conducted its audit, with the fund investing primarily in short-term, investment-grade money market instruments.

The fund's performance benchmark is the average yield of 91-day Nigerian Treasury Bills, and subscription starts at a minimum of 10,000 units (N10,000), with subsequent investments in multiples of 5,000 units.

CFG Africa Trustees Limited serves as Trustee, Rand Merchant Bank Nigeria Limited as Custodian, and Cordros Registrars Limited as Registrar for the fund launch.